skip to main content
skip to newscasts

Saturday, November 9, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Trump will name more conservative judges. He may even pick a majority of the Supreme Court; Both sides react as Missouri reverses near-total abortion ban Literacy initiative to implement 250 new early-education activations in PA.

view newscast page
play newscast audioPlay

President Biden asks Americans to turn down the temperature, House Speaker Mike Johnson promises an aggressive first 100 day agenda and Democratic governors vow to push back on Trump's plan for mass deportations.

view newscast page
play newscast audioPlay

Texas women travel some of the longest distances for abortion care, Californians the shortest, rural living comes with mixed blessings for veterans, an ancient technique could curtail climate-change wildfires, and escape divisive politics on World Kindness Day.

Americans Say They Can't Save Enough for Retirement

play audio
Play

Monday, February 24, 2020   

CONCORD, N.H. -- With the 2020 New Hampshire primary in the history books and the field of Democratic Party presidential contenders narrowing, many Americans approaching retirement are assessing where candidates stand on Social Security, pension programs and other retirement options.

The federal government's "Report on the Economic Well-Being of U.S. Households" finds nearly 40% of American households couldn't afford a surprise $400 expense -- which means tires, a medical emergency or even a minor home repair are out of reach.

Casey McCabe, director of the New Hampshire Retirement Security Coalition, says that's a concern, because the U.S. economy depends on retirees having stable financial resources.

"And the ability for them to be secure in their retirement also allows them to go out and support the local and state economy, because they have the income to do so," McCabe points out.

A second study by the National Institute on Retirement Security, says 70% of Americans feel the average worker can't save enough for retirement.

At the same time, pensions -- available mostly to public employees -- have been shown to have a greater impact than other retirement plans in reducing poverty among retirees.

Despite ongoing efforts to reduce or eliminate pension benefits for teachers, other school employees and state and local government workers, McCabe says pension benefits offer the strongest guarantee for retirement income security.

She argues that retirement benefits shouldn't be seen only as an expense, but also an asset -- because every dollar paid out in pension benefits supports $1.40 in total economic activity in New Hampshire.

"The mind set around retirement being an expense really needs to shift, because what is happening is folks are entering retirement with no savings, and then looking around and sort-of saying, 'How am I going to survive?'" McCabe points out.

The report also found 84% of Americans think politicians "are out of touch" with how hard it is to save for retirement.

Last year, New Hampshire lawmakers approved a pension increase 1.5% for state government workers -- the first increase to the pension system since 2010.

Disclosure: National Public Pension Coalition contributes to our fund for reporting on Budget Policy & Priorities, Energy Policy, Environment, Peace. If you would like to help support news in the public interest, click here.


get more stories like this via email
more stories
While Amendment 3 protects the right to abortion in Missouri, it does not mandate state funding for abortion procedures, so Medicaid and state funds are not used for most abortions. (Bits and Splits/Adobe Stock)

Health and Wellness

play sound

Strong reactions are pouring in from both sides as Missouri voters made history by adding abortion rights to the state constitution. The decision to …


Social Issues

play sound

If the election season made one thing clear, it is neither side can hear what the other is saying and one expert believes it is because most of us …

Social Issues

play sound

Roughly 30% of Minnesota's private-sector employees do not have a work-sponsored retirement plan but some business owners and consumer advocates hope …


Pima and Maricopa counties are the only ones in Arizona currently offering vouchers to residents and commercial users for electric lawn equipment. (Tyger Gilbert/Adobe Stock)

Environment

play sound

It is finally cooling down in Arizona, which means more leaves on the ground as well as heightened use of lawn equipment to keep Arizona properties …

Social Issues

play sound

Connecticut voters approved an amendment enshrining no-excuse absentee voting in the state's constitution. Passing by a little more than 57% of the …

Social Issues

play sound

New federal loan adjustments aim to ease financial burdens for farmers but advocates said lasting change requires legislative action. The U.S…

Social Issues

play sound

Young people in Pueblo can now avoid serious and long-lasting consequences when they are unable to pay fines or fees. Chanell Hasty, program …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021